For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee Trades Higher At 75.86 To US Dollar

|

Indian rupee on April 7, 2020 opened on a strong note with gains of 32 paise at 75.90 per US dollar. On Friday, the rupee closed at a record low of 76.22. On Monday, the forex market was shut due to Mahavir Jayanti.

Rupee Trades Higher At 75.86 To US Dollar
 

"We may see RBI intervening and capping the volatility however, there is not much RBI can do. 76.80-76.85 will act as a crucial resistance with 75.40 in support," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.

In the bond market, yield on10-year benchmark bonds further increased to 6.37% from previous close of 6.30%.

Oil prices climbed on Tuesday as hopes of production cuts by major oil producers including Saudi Arabia and Russia strengthened. Though, analysts caution that supply cuts would not help much in boosting demand for the commodity amid coronavirus pandemic that has ravaged global economy.

Amid lockdown situation in the country and operational issues, the RBI cut money market timings from 9 am to 5 pm to 10 am to 2 pm. The new timings will be applicable from April 7 to April 17.

Meanwhile, Indian equities tracking global cues is trading firm with gains of over 4% on both the Sensex and Nifty.

GoodReturns.in

Read more about: rupee dollar bond yield
Story first published: Tuesday, April 7, 2020, 10:51 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more